The Asian currency crisis and stock market correction have given many Canadian investors cause for concern.

You would think the "bird flew" in Hong Kong was an investment concern rather than a health concern, as many individuals "flew away" from Asian markets. Those that have weathered the storm rather than taken flight have had to show a great deal of intestinal fortitude to stay put as markets around the world, while not in a state of panic, have suffered some temporary fallout as well.

Finding

Seldom has the importance of a well thought-out financial plan, with long-term commitments to your own capital appreciation strategy, been more important. Many of our clients are more grateful than ever for a close-at-hand, long-term financial contract with themselves.

A great deal of time and commitment has been made on our part to develop and work with clients using a state-of-the-art financial planning software package called Portfolio Analyst. With your very important input, we can use this program to model future income in the context of your long-term financial goals.

It also allows you to see the "whole picture" at once instead of just one piece of the pie. After all, tax grabs still are a far greater risk to your long-term financial plans than a temporary setback, and they may have a far greater bearing on your financial "health" than a temporary Asian "flew."

Opportunity in crisis

The current crisis in Asia may also present opportunities.

Some investors view Asia's current low stock market and currency crisis as an opportunity to "bottom fish," by locking in Asian mutual fund prices that are currently lower than original purchase prices.

When the Mexican peso fell to drastically lower levels a few years ago, some enterprising individuals profited from new opportunities. Export companies marketed their goods (then attractively cheap to the world market) with a vengeance. Handsome profits were made the following year by those willing to see the silver lining rather than the grey cloud.

Similarly, many Asian mutual fund managers are switching to export-oriented companies that may grow more profitably as they sell their goods to the rest of the world in a radically-lower currency.

Stay your course, and if you are still unsure if your strategy is the best one for you, re-examine your Asian investments only in the context of your overall plan. Don't kill the golden goose just because it looks a little dirty right now; you may indeed be wiser to keep it and buy a few more while they are on sale.